Muktinath Development Bank launches special home loan scheme with 5.78 percent interest rate
Muktinath Development Bank has unveiled a special home loan scheme targeting the 9th Nepal Land and Housing Construction Expo-2083 and the festivals of Dashain, Tihar, and Chhath. Under the scheme, home loans will be available at a 5.78 percent interest rate until the end of Kartik.
Kathmandu. Muktinath Development Bank has launched a special home loan scheme targeting the 9th Nepal Land and Housing Construction Expo-2083 as well as the festivals of Dashain, Tihar, and Chhath.
Under the scheme, customers can avail loans for home construction, home purchase, and housing-related needs by adding a 0.25 percent premium to the base rate. Since the bank's base rate is 5.53 percent, customers will get home loans at a 5.78 percent interest rate until the end of Kartik, according to the bank.
According to the bank, loans will be available up to a maximum of 70 percent of the appraised value of land and property. In the case of a first home loan, loan facilities of up to 80 percent can be availed.
The bank stated that the scheme has been introduced targeting customers planning to build or buy their own homes during the festive season. The special home loan scheme will be effective until the end of Kartik 2083. After that, the bank's prevailing interest rates and other terms and conditions of the respective loans will apply, according to the bank.